Uber CEO Travis Kalanick resigns

CNN

5:23 AM, Jun 21, 2017

7:20 AM, Jun 21, 2017

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FILE - In this July 10, 2012 file photo, Uber CEO and co-founder Travis Kalanick arrives at a conference in Sun Valley, Idaho. The New York Times and other media are reporting Sunday, June 11, 2017, that Uber's board is considering placing Kalanick, the CEO of the ride-hailing company, on leave. (AP Photo/Paul Sakluma, File)

Paul Sakuma

EW YORK (CNNMoney) -- Travis Kalanick has resigned as the chief executive of Uber, the ride-hailing startup he co-founded and turned into a global tech giant.

Kalanick already announced last week that he was going on an indefinite leave of absence following the death of his mother in a boating accident.

But the move failed to defuse a growing crisis over his leadership and demands from investors that he resign.

"I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight," Kalanick said in a statement late Tuesday, according to an Uber spokesperson.

Kalanick's exit, which was first reported by The New York Times, follows a period of extraordinary turmoil at the company.

Uber has been hit by a seemingly endless series of PR crises and an exodus of top executives in recent months.

The startup brought in former U.S. Attorney General Eric Holder to investigate allegations that managers did not adequately address reports by female employees that they had suffered sexual harassment.

Holder's recommendations, which were announced last week, included reevaluating Kalanick's responsibilities at the company as well as "enhancing board oversight" and boosting the board's independence.